Vacant Two-Family Colonial
60 Lexington Avenue Jersey City, NJ 07304
60 Lexington Avenue, Jersey City, NJ, 07304
$649,000
For Sale
$649,000
Vacant two-family Colonial with separate living spaces, off-street parking, and forced hot air gas heat.
Property Size1,850 SF
Price / SF$350.81
Days on Market26
Property Features for 60 Lexington Avenue
General Information
- Standard status
- Active
- Size
- 1,850 SF
- Property subtype
- 2 FAMILY / 2 Family
Listing agency
WEICHERT REALTORS
(201) 333-4443
Listed by
NATALIE ESFANDIARI · License #1434331
(201) 333-4443
Source
Compass
Added: Jun 27 Updated: Jul 21 at 10:55AM Checked: Jul 21 at 10:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WEICHERT REALTORS
Investment Insights
Based on property information with market context.
Vacant two-family Colonial built in 1890, delivered completely empty and ready for immediate renovation. The second-floor unit is described as a spacious 3-bedroom, 1-bath layout of approximately 1,200 square feet. The first-floor unit is described as approximately 650 square feet with 1 bedroom and 1 bathroom and requires a complete renovation. Additional features include forced hot air gas heat, a rear porch, and a private backyard with side-by-side storage units. One off-street parking space is included.
The property is positioned in Jersey City’s West Bergen neighborhood with convenient access to Lincoln Park, NJCU, major bus routes, shopping, restaurants, schools, and parks. It is also noted to be near the West Side Avenue Light Rail Station, Journal Square, and Route 440, with access to Downtown Jersey City, Hoboken, Manhattan, and the NJ Turnpike.
The property is positioned in Jersey City’s West Bergen neighborhood with convenient access to Lincoln Park, NJCU, major bus routes, shopping, restaurants, schools, and parks. It is also noted to be near the West Side Avenue Light Rail Station, Journal Square, and Route 440, with access to Downtown Jersey City, Hoboken, Manhattan, and the NJ Turnpike.
Key Highlights
- Vacant two‑family Colonial (built 1890) with separate living spaces, delivered completely vacant for immediate renovations
- Duplex unit breakdown: 3‑bedroom, 1‑bath on the second floor plus a first‑floor unit with 1 bedroom and 1 bathroom
- Approx. 1,200 sq. ft. for the 2nd‑floor 3BR/1BA duplex; first‑floor unit approx. 650 sq. ft.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.3k | $34.20 |
| − Vacancy | −$3.3k | −$1.78 |
| EGI | $60.0k | $32.42 |
| − OpEx | −$18.0k | −$9.73 |
| NOI | $42.0k | $22.70 |
1,850 SF · lease $34.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$599.8K
$524.8K – $699.8K
NOI $41,986 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$538.0K
$470.8K – $627.7K
NOI $37,662 @ 7.0% cap · market cap 5.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Vacant two-family Colonial with separate living spaces, off-street parking, and forced hot air gas heat.
Where is this duplex located?
The property is located at 60 Lexington Avenue Jersey City, NJ.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Vacant two‑family Colonial (built 1890) with separate living spaces, delivered completely vacant for immediate renovations; Duplex unit breakdown: 3‑bedroom, 1‑bath on the second floor plus a first‑floor unit with 1 bedroom and 1 bathroom; Approx. 1,200 sq. ft. for the 2nd‑floor 3BR/1BA duplex; first‑floor unit approx. 650 sq. ft.
